I am currently making compulsory student repayments through PAYG. However, I am also making voluntary repayments to pay it off sooner.
What happens to the money witheld from PAYG from the 2019/20 financial year if i pay off my debt in one go before the next financial year? Can it be refunded?
For example, person X owes $20,000 for the 2019/20 financial year. Throughout this financial year, money has been witheld through PAYG. Person X decides to pay off the $20,000 in full prior 2020/21 financial year.
Hope this makes sense.
